Kingfisher CEO to Leave in February

Updated Nov. 2, 2007 12:01 a.m. ET

Kingfisher PLC, Europe's biggest home-improvement retailer, said Chief Executive Gerry Murphy will step down in February and that the U.K. market remains "tough."

"I am proud of the progress we have made over the past five years and it is the right time for me to move on and hand Kingfisher over to a new leader," Mr. Murphy was quoted by the retailer as saying. He couldn't be reached to comment.